This is especially true of financial institutions, which often have a sea of raw data to sift through. “The chief aim of data analytics is to apply statistical analysis and technologies on data to find trends and solve problems,” said Thor Olavsrud, contributor to CIO.ĭata analysis can benefit organizations across all industries. Wondering, “What is data analytics?” In short, data analytics is a practice that helps professionals make sense of raw data for the betterment of an organization. ThisĪllows organizational leaders to make informed decisions that promote better business outcomes. They also rely on data analytics to help them understand their customers on a deeper level. ![]() ![]() ![]() Globally, an increasing number of businesses are using data analytics to improve internal operations. What Renewal Options Are Available to You?ĭata analytics in finance is growing in importance.
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